(Humourously) Pedantic, I know, but "Glasgow Rangers", or "The slimy, scummy, club that eventually crawled out of the s**t Rangers"- would that not be a Rangers, though not the Rangers? I agree with you - I think it's looking doubtful that there will be a 'Newco' club formed in time to play anywhere next season.
You are right. I wonder what they'll be called? FC Rangers of Glasgow? MK Huns Glasgow Rangers Monkey Hun **** pigs Glasgow Cheetahs FC. Ra Gurs
"Glasgow Cheetahs FC" has a ring of something about it - the truth perhaps? By the way Reb, I must have been too engrossed in the subject matter of your posts and missed it but when did you become the mod and what happened to Pud????
He is coming back as a newpud next week but with sanctions imposed. I'm doing it on the Ireland board for the Euros.. I am enjoying them , despite the results.
Sell ground and everything else that's of value , move to Darlingtons big empty stadium, join NE counties league as Darlington Rangers. That way the new Rangers even end up playing in a better league then the SPL
Why would it matter? He would own 85% of a company which is about to be liquidated. He can't do anything about a company owned 100% by others who happen to own assets which formerly belonged to one of his companies.
Fair enough his shares are woth **** all - but his floating charge over Ibrox is not worth **** all. Given the liklihood he owes money to a lot of people (ticketus at least - remember you guys wanted them to chase him and not rangers for the money) can he give away that charge for free (assuming he wants to? Someone will challenge that - as its worth money.
As far as I was aware, the power to sell any assets of the company lies with the administrators. If they decide to sell Ibrox, Murray Park and the car park to Greens company then I can't see how Whyte could still have a claim over them. To be fair though, I don't know the first thing about floating charges etc so I could be (and probably am) wrong.
One of the duties of a liquidator is to examine the administration process. This was said last night by an HMRC spokeswoman interviewed on Radio Scotland. She also confirmed that the Green deal is binding (it's not a preferred anything - it's contractually bound) .
the op is decent but you are WAY off on your land valuations mate site clearance alone would be a nightmare the site itself is not in a good location for residential development and the commercial market is dead at the moment add to that the hassle of keeing the facade (not impossible but not quite as straightforward as you think either) and you have a no win situ for the developers persimmon, milne - whoever - have land banks coming out of their backsides at the moment - land banks without the bad joo joo that building on ibrox would bring who would buy it? celtic fans? nah, rangers fans? they would be too busy boycotting the company and protesting about the big hoose murray park...maybe - same land bank arguments though and commercial market difficulties in short - it holds absolutely no value outwith a footballing context csc surveyor loyal
Gambol, the lady in question was NOT from HMRC. She was Maureen Leslie of MLM Solutions, a small firm of insolvency practitioners with offices in Glasgow, Edinburgh and Livingston. She did say that she thought it "highly likely" "from the information available" that the Charles Green agreement was "binding and irrevocable". "Highly Likely" does not make it inevitable or legally set in stone. Her qualifying statement, "from the information available" points out that there may be information she is not privy to. This lady has not been involved in any way in the process, beyond being a talking head for the BBC. HMRC or the liquidators, BDO, may well have more information and different ideas. I would just like to see the taxpayer (us) and other debtors get the best return from a sale of the assets and I'm concerned that this might not be the case in the Green deal.
it might not be magic - you are quite right but i would not hold out for land sale being the answer renegotiating a debt free football club sale would be the way forward i think
Still think the key to all this is the ticketus deal. If they were worried about craig whyte and his reported wealth i would have expected some sort of legal action to claim the assets. The administrators kept it confidential in the CVA but with bdo now investigating the takeover, the details should come out.
My mistake. I was under the impression she was an HMRC spokeswoman. I have heard other reports that the D&P administration process will be "looked at" by BDO and that the Green deal is binding. We shall see.
I'm pretty sure the legally binding bit relates to green, as in he can't walk away. There is no way d&p could sign away the club for an amount that may not be agreed. If its suspected they have not given the correct figures in the cva document then it can be challenged. However if hmrc feel the £5.5 m asset sale is the best they can get then they'll sell at that. I find it hard to believe £5.5m is all its worth but I'm not an expert in any form!!!
I take all of your points on board, Simon. But the example I gave (6 million for 3 acres ish) is recent and took place within the current downturn (2010). It is also fairly local, in the southside of Glasgow. As I have said previously, I am not saying Ibrox is worth the £36 million this deal would suggest. I am saying that I would like it properly evaluated, not just guessed at. Site clearance would of course be an issue, but there is a lot of scrap steel in those stands... Maybe Murray International Metals would buy it? To sum up my position on this: Rangers are being liquidated. The assets should be properly valued and sold to the highest bidder. These assets are now unencumbered by debt, free of future liabilities and separate from a (defunct) loss-making club. As said above, the liquidator has the power to examine the administration process and cancel any deals it sees as not being best value for the debtors. I think they should therefore look very closely at the green deal.
